I don't disagree with the statement in its intended context. He's speaking to startups here, who don't have an established product yet, and don't know if their

I don't disagree with the statement in its intended context. He's speaking to startups here, who don't have an established product yet, and don't know if their product even reliably solves a business need. In that context, this is excellent advice. Once the product is built and already making you money, then you can easily pivot and see if there's any profitability in marketing the now-sustainable product to the lower end segments. But don't start there unless you really know what you're doing, because the low margins in that market amplify your risks.